The real estate recovery will continue to move forward in 2013 but slowly. Global economic turmoil will restrain confidence but overpriced core markets will begin to drive interest in strong secondary markets. Most locations can still not support commercial construction because of the weak tenant demand and employment outlook. Multifamily development remains the only strong sector but is expected to be peak in 2014-2015.
Posts from the ‘Retail’ Category
In 2007 and 2008 I was part of the development team which transformed an abandon 130 acre brownfield site into The Shops at White Oak Village - a 900,000 square foot retail shopping center in Richmond, Virginia. While traveling back from NYC this past weekend, I had an opportunity to stop to visit the property and stay overnight at the Hyatt Place on site. The center is a hybrid lifestyle/power center, was built to LEED silver standards (unregistered), was a brownfield (now remediated and put back to good use), and serves a historically underserved retail area. It is also an EPA Success Story, public/private partnership, and at the time of its development - the largest commercial enterprise zone development project in Virginia.
The streets of Boston in the Back Bay area are energized by restaurant and bar goers, shoppers and residents throughout the day and into the night. The place is alive everywhere you look and the streets are clean, safe and inviting. The Newbury Street retail scene is incredibly vibrant and is of the best of its kind anywhere in the world.
Aquascutum, Bottega Veneta, Brioni, Bulgari, Burberry, Calvin Klein, Celine, Chloe, Church’s, Coach, Diane von Furstenburg, Dolce & Gabbana, Donna Karan, Dunhill, Ermenegildo Zegna, Escada, Estee Lauder, Etro, Fendi, Ferragamo, Furla, Gieves & Hawkes, Giorgio Armani, Givenchy, Gucci, Hugo Boss, Jaeger, Jimmy Choo, La Perla, Lacoste, Longchamp, Loro Piana, Marc Jacobs, Marni, MaxMara, Michael Kors, Missoni, Mulberry, Paul Smith, Prada, Ralph Lauren, Roberto Cavalli, Tag Heuer, Thomas Pink, Tod’s, Tommy Hilfiger, Tumi, Valentino, Versace and Yves St Laurent.
The former CEO of Bloomingdale’s, Marvin Traub, has compiled this list of 50 fashion and luxury brands he considers essential for outlet centers hoping to attract global shoppers.
Traub, who has been chairman of his own retail marketing consultancy since 1992, says if these brands can find the right outlet centers, “they will create tourism shopping destinations in their own right…These brands are crucial to today’s sophisticated outlet offer. They are the foundation brands that appeal to the growing number of international customers.”
Reposted from ICSC Global Outlet News Brief